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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #124,581
  • Apr 9, 2013 8:44am Apr 9, 2013 8:44am
Quoting ping-ping
Hi anyone, where can i get an article about how to played a gap according to j16 stuff? thanks alot. edward
Hey Ping

I saw your PM as well. Gaps can be played a bunch of ways. As for j16 we really don't treat gaps in a specific way. Meaning every time we see a gap trade.

I like to use gaps sometimes for bias as where price is likely to close(take the eur/usd I just posted). That's still a trade I would take without the gap, but used the gap for a target.

Here is another way I play gaps
http://www.forexfactory.com/showthre...17#post6299117


Best
Mike
  • #124,582
  • Apr 9, 2013 8:45am Apr 9, 2013 8:45am
Quoting makwana
Cheers for that Mike, I was originally only looking at the 8 fx majors, but now just scoped out to the both the majors and 'major' minors which is giving me about 20 markets to look at. In effect this suits me better as with the 8 i was always watching and wondering if there was a trade but now as you mentioned i can be picky and only take the best setups (which know doubt I'll be posting on the thread for confirmation ). Your advice is greatly appreciated, Mak
As you get comfortable keeping watching more markets and other instruments too. It just expands that amount of things too watch and you just carry the pickiness over. I watch around 80 FX pairs and 3000 stocks

Best
Mike
  • #124,583
  • Apr 9, 2013 8:46am Apr 9, 2013 8:46am
Quoting frosty2012
Hi Mike and all, Pardon my first post here. Am trying to read this thread mountain and I wasn't anywhere halfway. But I'm getting the hang of PA being shared here. Cool. I guess Mike's words here are wonderful. I have always known to plan a trade and trade the plan. If the plan says TP for 1:2 RR, stick to it, then I watch price almost reaching TP but U turn to hit my stop. The setup is there, trigger was given, the trade was good, but not profitable. I failed to manage the trade. I should not have insisted on 1:2 RR. It is just a plan anyway. It's...
Bingo Frost

And welcome to the thread best of luck

Mike
  • #124,584
  • Apr 9, 2013 8:50am Apr 9, 2013 8:50am
Quoting nc_trader
I'm long on aud/jpy. We have a very strong uptred. And at 4h chart we can see a nice Bullish Pin Bar {image}
Hey NC

Be careful here. Remember we want to look for pinbars at swing lows. This one is at a very steep swing high and trading right back into the swing high point which is very close. Very little confluence here and these can be tricky just trying to jump on a trend based on just a bar like this

Best
Mike
  • #124,585
  • Apr 9, 2013 9:22am Apr 9, 2013 9:22am
Quoting asim.iqbal
Generating a bullish noise! {image}
Wow! It is Rising.
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Price Is The Best Indicator Itself.
  • #124,586
  • Apr 9, 2013 9:53am Apr 9, 2013 9:53am
A couple pf questions please good people, with regards to Jarroo's method.

1. I thought the HCRs/LCRs should be on bars that are at swing highs/lows, however, it would appear I have seen some on bars that are not at swing highs/lows on some charts.

2. Where (which thread) would I find more info on these 'signatures' stuff?

Many thanks
Dan
  • #124,587
  • Apr 9, 2013 10:29am Apr 9, 2013 10:29am
Just validating my observations...

Market: USD/CHF, Method: J16 - BEOB

NOTE: The observations are on the assumption the candle stays as it is when it closes.

The candle has formed a BEOB, last Friday price had broken the S/R level as well as the 38.2 fib level, price has now come up to retest the level after which it is now dropping down.

My question is to ask the opinion of the members here of how to enter, stop and management of the trade.

Entry 1: You would enter straight after the candle close
Entry 2: Enter at the low of the BEOB
Entry 3: Wait for a retracement of 50% of the BEOB candle
Entry 4: Is there another way?

Stop Loss 1: The stop should be at the high of the BEOB candle
Stop Loss 2: The stop should be at the high of the PB at the far left of the screenshot on the S/R line
Stop Loss 3: No stop loss
Stop Loss 4: Is there another way?

Assuming this trade did go in our favour, how would you manage this trade, and where would you believe a sufficient distant is maintained to comfortable put the trade to B/E?

I know these are quite a few questions but trying to break the trade down simple and logically for myself, trying to mitigate all amibiguity

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  • #124,588
  • Apr 9, 2013 1:12pm Apr 9, 2013 1:12pm
Quoting danjuma
A couple pf questions please good people, with regards to Jarroo's method. 1. I thought the HCRs/LCRs should be on bars that are at swing highs/lows, however, it would appear I have seen some on bars that are not at swing highs/lows on some charts. 2. Where (which thread) would I find more info on these 'signatures' stuff? Many thanks Dan
Hi Dan,


You can find info on signatures at this post by Jim


http://www.forexfactory.com/showthre...95#post6519495


Cheers
Vicky
Fall seven times, stand up Eight! #GGMU
  • #124,589
  • Apr 9, 2013 1:18pm Apr 9, 2013 1:18pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting mbqb11
I watch around 80 FX pairs and 3000 stocks Best Mike
Mike, Sorry if you have answered this before, but how do you manage to track so many? How much time do you spend reviewing each pair or stock? Can you tell at a glance whether it is worth investigating? How much time elapses between viewings for a given pair or stock? Any insight on the mechanics of this process would be most appreciated!
  • #124,590
  • Apr 9, 2013 1:37pm Apr 9, 2013 1:37pm
Aud/jpy that i posted is working nice !
I'm also looking to the USD/CHF daily.
It seems it will form a Fakey Setup.
This is my chart.
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  • #124,591
  • Apr 9, 2013 1:38pm Apr 9, 2013 1:38pm
AUD/USD at a swing high and RN. This could be a SFP setup if the hourly candle closes below the swing high. Shorts however should be careful due to the daily HCR just below.
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Fall seven times, stand up Eight! #GGMU
  • #124,592
  • Apr 9, 2013 2:56pm Apr 9, 2013 2:56pm
Hi to all my pipmates ^^ well here we go, thats my first chart, so be even more rude to me so I can reach & continue with you even faster ^^.
EUS/USD (Daily of course)

I found (screenshot attached) what I think is some confluence. 150 & 365 emas, fibb at 38.2 lvl, also a VBRN that acted as resistance recently.

So I suppose that now I should wait for some PA-Setup to happen to confirm a enter, right?

For example i could:

- Go short if price does not manage to close above our PPZ (i put my blue rectangle around the VBRN and 32,8 Fib) AND forms a nice Pinbar or BEOB.

- Go long if price closes above our PPZ and forms a BUOB above it.

- Do nothing since i do not see PA above or under the PPZ.


I hope what i worte is not too far away of what I should be looking at...if I´m wrong, please, straighten me up so i wont continue in the wrong way. I have months/years of demo practice in fornt of me but I think its better to realize my faults earlier than later.

Thanks a lot
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  • #124,593
  • Apr 9, 2013 3:13pm Apr 9, 2013 3:13pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
What do people think of this potential SFP on NZD/USD 4 hour? It has another 45 minutes to bar close.
Thanks for feedback.
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  • #124,594
  • Apr 9, 2013 3:29pm Apr 9, 2013 3:29pm
Quoting vickym
Hi Dan, You can find info on signatures at this post by Jim http://www.forexfactory.com/showthre...95#post6519495 Cheers Vicky
vickym, thanks for the link. I have actually seen that thread, was hoping there was more info/explanations somewhere else, will just have to go back and read that thread several times again.

With regards to my first question "I thought the HCRs/LCRs should be on bars that are at swing highs/lows, however, it would appear I have seen some on bars that are not at swing highs/lows on some charts" Have you got an answer to this? Or anyone else got an answer? Thanks
  • #124,595
  • Apr 9, 2013 4:00pm Apr 9, 2013 4:00pm
Quoting vickym
AUD/USD at a swing high and RN. This could be a SFP setup if the hourly candle closes below the swing high. Shorts however should be careful due to the daily HCR just below. {image}
I'm watching this pair for a long time, but I'm waiting for shorts or maybe longs higher. 1.05 is a BRN, but it had much less importance in the past comparetevely with 1.06
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If not up, then down, otherwise sideways :-)
  • #124,596
  • Apr 9, 2013 5:26pm Apr 9, 2013 5:26pm
Hello everyone,

So yesterday I posted a GBP/USD chart because I was considering a long trade. I've now entered the trade and I'm up around 50 pips. Here is another trade I've entered today. Chart explains my justification for trade. First time in a while I've played an inside bar. We got a close above the RN (0.7900) at the NY close today which is what I was looking for.

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  • #124,597
  • Apr 9, 2013 5:27pm Apr 9, 2013 5:27pm
Hello Everyone!

I have been reading this thread for quite a long time, i have learnt a lot from it but iv got a question and I would appreciate if someone could answer it.
Im demoing this method for some time now but one thing bothers me, if i trade on daily bars the problem is that for each broker the daily bar will look pretty different because of the time zones, so how can i make my decisions based on the signal bar if it will look pretty different at that time in other part of the world?

I hope you understand my matter, sorry for any mistakes
  • #124,598
  • Apr 9, 2013 5:48pm Apr 9, 2013 5:48pm
Quoting Starfish
Hello Everyone! I have been reading this thread for quite a long time, i have learnt a lot from it but iv got a question and I would appreciate if someone could answer it. Im demoing this method for some time now but one thing bothers me, if i trade on daily bars the problem is that for each broker the daily bar will look pretty different because of the time zones, so how can i make my decisions based on the signal bar if it will look pretty different at that time in other part of the world? I hope you understand my matter, sorry for any mistakes...
The old timers will correct me if I'm wrong, but I think most people use NY close charts. My broker uses a different time zone but I use a demo trading mt4 feed from a different broker for my charting which has NY close.
  • #124,599
  • Apr 9, 2013 6:18pm Apr 9, 2013 6:18pm
How about this one in the Aussie , Seems like we are at a weekly bearish trend + 4H PinBar at BRN .....hmmm ...seems interesting , entered with a very tight SL . Any Ideas ?!!!
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  • #124,600
  • Apr 9, 2013 6:38pm Apr 9, 2013 6:38pm
Quoting Riskee
How about this one in the Aussie , Seems like we are at a weekly bearish trend + 4H PinBar at BRN .....hmmm ...seems interesting , entered with a very tight SL . Any Ideas ?!!! {image} {image}
Hey Riskee

Pretty small pinbar here, we might stall but price is looking like it wants to push higher to the box(or flag depending on how you draw it). I'd like to see a more substantial bar to get an idea. We could get a breakout here long term.

I'm watching this way though

Best
Mike
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